If the Fed follows a policy of fixed exchange rates, an undervalued dollar will force the Fed to
a. conduct open market purchases.
b. raise the discount rate.
c. raise the required reserve ratio.
d. cut taxes or raise government spending.
A
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Which of the following is most accurate about the period between the Civil War and World War I?
a. An increasing share of the U.S. population lived in rural areas. b. Unions pursued strategies of peaceful negotiation with employers. c. The average number of hours of work increased significantly during the period. d. The difference between male and female wages decreased.
Average fixed cost:
A. equals marginal cost when average total cost is at its minimum. B. may be found for any output by adding average variable cost and average total cost. C. graphs as a U-shaped curve. D. declines continually as output increases.